US gaming and lottery supplier Scientific Games Corporation has appointed Gavin Isaacs, the former chief executive of SHFL entertainment, to succeed David Kennedy as the company’s new president and CEO.
Kennedy took over as president and CEO in November of last year, replacing Lorne Weil who had been with the company for over twenty years. Kennedy will continue to service the company as executive vice chairman.
“We extend our thanks and appreciation to David for stepping up to lead the company during the last six months and work with the board to facilitate the CEO succession,” said Scientific Games’ chairman Ronald Perelman. “We were fortunate to have a leader of David's stature and experience at such an important time, and we are pleased that he will continue to serve the company and our stockholders as executive vice chairman.”
Isaacs brings with him more than 15 years of industry leadership experience, having most recently served as CEO of SHFL entertainment until its acquisition by Bally Technologies last year.
Prior to that, he was executive vice president and chief operating officer of Bally Technologies from May 2006 until March 2011.
Isaacs has also held senior roles at Aristocrat Leisure, including head of global marketing and business development and managing director of Aristocrat's London-based European subsidiary. He also served as president of Aristocrat Technologies, the company’s Las Vegas-based subsidiary focused on North and South America.
“Gavin is a very talented and seasoned gaming industry executive with the necessary skills to lead our company to the next level of growth and performance,” continued Perelman. “He has an impressive track record of success and is recognized for his dynamic leadership.
“We believe his focus on customer relationships, strategic thinking and expertise in growing innovation-focused businesses make him the ideal choice to lead our efforts to achieve greater profitability and increased cash flow.”
Following the appointment, Isaacs said he was “tremendously enthused” to join the company at this “exciting and challenging time” and lead the business to the next level.
“Scientific Games has a skilled worldwide organization that is focused on improving performance and growth,” he said. “In collaboration with the entire Scientific Games team, I look forward to working together as we concentrate on creating and distributing innovative products and services to our customers, completing the integration of WMS and enhancing stockholder value.”
Shares in Scientific Games Corporation (Co. Data) (NASDAQ:SGMS) closed at $9.14 per share in New York Monday, having gained 5.30 per cent in trading.